FG ₦4.5m NESP Loan: Portal Reopened – Here’s How to Apply

Are you looking for a step-by-step guide on how to apply for the ongoing Federal Government NESP loan? If so, then you are at the right place.

In this article, I will outline a step-by-step process for registering and getting your small or large businesses funded with the Federal Government Nigeria Economic Sustainability Plan (NESP) ₦4,500,000 loan through the Bank Of Industry This process is simple and fast.

What is Nigeria Economic Sustainability Plan (NESP)

NESP –  Nigeria Economic Sustainability Plan is designed to promote the development of small and large enterprises to grow the Nigeria Economy. As part of the Covid-19 recovery strategy, the federal government approved the USD 5.9 billion (NGN 2.3 trillion) NESP to stimulate and diversify the economy, retain and create jobs, and extend protections to the poor.

The NESP will be funded as follows:

• 500 billion Naira from Special FGN Accounts
• 1.1 trillion Naira from the CBN in the form of structured lending
• 334 billion Naira from external bilateral/multilateral sources
• 302.9 billion from other funding sources

According to  The Minister of State for Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum, represented by the State Director, Bank of Industry (BOI) and Steering committee (STEERCO) member, Mr Adewale Bakare “The anticipated impact of the program was to directly engage One Hundred Thousand (100,000) MSMEs in the Production sector alone and save at least (1.3 million) One Million, Three Hundred Thousand (1,300,000) jobs.“

NESP Loan Requirements

• A registered business name
• Your Business Registration Number ( RC or BN)
• State in which the business operates
• Type of Business
• Age of Business(Number of years of operation)
• Phone Number and your government name

NESP Loan Application Processes: How to Apply Through the Bank Of Industry

To access a loan, you must create an account  via the Bank Of Industry website to enable you and access the NESP government loan

STEP ONE:

Visit the Bank Of industry registration portal at https://apply.boi.ng/register

STEP TWO:

The below information will be required to continue the registration. Ensure you provide accurate information.

• Business Name
• Phone number
• Full Name
• Email
• Business premises you operate from
• Type of entity
• Are you registered with CAC? (This is not required. However, it will help facilitate your loan application process)
• Business Owner Information
• Office address

Finally:

We urge you to register your business and join thousands of Nigerians already enjoying loans and funding benefits. Also, visit statehouse.gov.ng for more information.